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�V � �V��V�
<br /> DEED �F TRUST
<br /> ��ontinued� Page 3
<br /> �o�erage endors�ments vn a replacement basis for the full insurable value cv�ering all Impro�ements on the Reai
<br /> Pr�perty in an amvunt suffici�nt tv aW�id app��cativn a�F any coinsurance clause, and with a standard mvrtgagee
<br /> ��aus�in fa�or of Lender,�ogether wi#h such ather hazard and liability insuran�e as Lender may reasonably require.
<br /> Policias shall be written in fvrm, arnounts, co�erages and basis reasonabfy acc�ptable to Lender and issued by a
<br /> campany ❑r c�mpanies reasonahiy acceptable to Lender. Trustar, upon r�quest af Lender, will deli�er tv Lender
<br /> frorn time to�ime the poli�ies ar certifi�ates af insuranc� in farm satisfactory t❑ Lender, inc�uding stipulations that
<br /> caverages will not be cancelled or diminish�d v►rithout at least thirty �3Q} days privr written nvtice to Lende�. Each
<br /> insurance pvficy also shall include an endorsement pra�iding tha� cvverage in fa��r of Lender will nat be impaired
<br /> in any way by any act, omissEan or de#ault of Trustor or any other persan. 5hould the Real Property be located in
<br /> an area designat�d by th� Adm�nistratar af�he Federal Em�rgency Management Agency as a spe�ial flood hazard
<br /> ar�a, Trustor agrees ta a�tain and rnaintain Federal Flvad insuran�e, if a�ailable, for th� maximum amount af
<br /> gorrower's �redi� line and the full unpaid principaf bafance �f any priar liens an the property se�uring th� Ioan, up
<br /> tv the maxirnum policy limits set under�he National Flaod lnsuran�e Program, or as o�herwis� r�quir�d by Lender,
<br /> and t�maintatn su�h insuran��for the term a�the loan.
<br /> Application o�f Pro�eeds. Trustor shall promptly natify Lender a� any loss or damage t� the Praperty if the
<br /> �stimated cast of repair or replacemen�exceeds �i,�n�.C�D, Lender may make proaf❑f loss if Trustor fails ta d�
<br /> so within fifteen ��5} days of the�asualty. VIlhether vr nvt Lender's se�urity is impaired, Lender may, at L�nde�'s
<br /> �lection, re�ei�e and retain the proceeds vf any insurance and apply the proceeds to the reduction vf the
<br /> �nde�tedness, payrnent vf any lien a�fecting �h� Prvperty, or the restaration and repair of the Praperty. If Lender
<br /> �lects to appfy the prn��eds t� restaration and repair, Trustor shalE repair ar replace �he damag�d or destroy�d
<br /> Impro�ements in a manner sa�isfactory t❑ Lend�r, Lend�r shall, upan satisfacta�y prQofi o�su�h expendi#ure, pay
<br /> �r reimburse Trustar�ram the proceeds �or the reasvnab�e cost of repair vr restvration i�Trustvr is not in d��ault
<br /> under this �eed vf Trust. Any praceeds wh�ch ha�e not been disbursed within 1 8� days af�er their receipt and
<br /> wh�ch Lender has nafi committed�o�he repair or res�Qration of the PrQperty shall be used first to pay any amvun�
<br /> ❑wing to Lender under this Deed af Trust, then to pay a��rued interest, and the remainder, i�any, shall be applie�
<br /> to the prin�ipal balance vf the Indebtedness. !f Lender holds any proceeds afit�r paym�nt in full of the
<br /> lndebtedn�ss, su�h proceeds shall be paid tv Trustar as Trustor's interests may appear.
<br /> Cornpliance with Existing Indebtedness. During the periQd in whi�h any Existing Ind��tedn�ss des�ribed belvw is
<br /> �n effect, compliance with the insuran�e pro�isivns contained in the instrument ev�dencing such Existin�
<br /> lndebtedness shall cons�itute compliance with the insurance p����sivns under this Deed of Trus�, to the extent
<br /> campl�ance with the #erms of this Deed ot Trust vvvuld c�ns�i�ute a dupli�atian of insuranc� requirement. If any
<br /> pr�ce�ds from the insurance become payabl� on I�55, the pro�isions in this �eed of Trust tar di�ision ❑f prviceeds
<br /> shall apply an�y t❑that partivn o�r the proceeds not payable�o th�halder af the ExistEng lndebtedness.
<br /> LENDER'S EKPEN�ITURES. If Trus�vr fails tA) to keep the Property fr�e af a!1 taxes, liens, security interests,
<br /> encumhranc�s, and other claims, �By ta prQ�ide any required insurance ❑n the Praperty, {C� �o make repairs to the
<br /> Property vr tv �vmpfy w�th any abl�gation �v maintain �xisting Indebtedness in good standing as required �elaw, then
<br /> Lender may do so. If any ac�ian or proceeding is �ommen�ed that would mat�rially affie�t Lender's int�rests �n the
<br /> Property, then Lender on Trustar's behalf may, but is not required to, take any actian that Lender be�ie�es t� be
<br /> apprvpriate tv protect Lender's interests. All expens�s incur�ed ar paid hy Lender for su�h purpases will then bear
<br /> interest at the rate charged under the Credit Agreement fram the date incurred or paid by Lend�r tv the date of
<br /> repaymen� �y Trustor. All such expenses will become a part of the lndet�tedness and, at Lender's aption, ►rvill {Ay be
<br /> {aayable on dernand; �B7 be added ta �he balance af t�e Cr�d�t Agreement and be appart�vned among and be payaa�e
<br /> with any installment payrnents tv be�ome due during e�ther �1� the�erm of any appli�able insuran�e{�a�i�y;o� �2} the
<br /> r�maining term af th� Credit Agreement; or ��� be treated as a ballvan payrnent which will be due and payalale at the
<br /> Credi�Agreement's maturity, Th� �eed ��Trust als❑will secure payrnent vf thes�amounts. The rights provided for in
<br /> this paragraph shall be in additivn t❑ any other rights or any r�medies ta whi�h Lender may be entt�led an ac�ount o#
<br /> any de�rauit. Any such ae#ian �y L�nder shall not be construed as curing the d�fault so as to bar Lend�r from any
<br /> remedy that it otherwise wvuld have had.
<br /> WARRANTY; ❑EFENSE OF TlTLE. The follawing pravisions relating to o�rvnership o�the Prop�rty are a part o�this Deed
<br /> o€Trust:
<br /> Title. Trustvr warrants tha�. �ay Trusta� hvlds good and marketable �itle v� reGord to the Property in fee simple,
<br /> free and clear vf all liens and encumbrances a#her than those s�t forth �n fihe Real Praperty de��riptian or in the
<br /> Existing lndebtedness se�tion below or in any title insuranee pali�y, title repvrt. or final title opinivn issued in fa�or
<br /> of, and acGept�d �y, Lender in conne�tion w�th this Deed vf Trust, and �by TrustQr has the full right, power, and
<br /> authority�Q execute and d�li�er this Deed vf Trust ta Lender.
<br /> D�fense of Title. Sub�ect to the exCeption in the paragrapi� aho�e, Trustar warrants and wifi fare�er defand fihe
<br /> �itle ta the Prap��ty against the lawfu! cla�ms of all persons. fn the e�ent any acti�n or pro�eeding rs commenced
<br /> that questions Trustvr"s title or�he interest of Trusrte� or L�nder und�r�this ❑eed of Trust, Trus�or shall defend the
<br /> action at Trustvr`s expense. Trustor may be the nvrninal party in su�h prv�eeding, but L�nder shall be entitled to
<br /> participat� in the proceeding and to be repr�sented in the praceeding by cvunsel vf Lender's awn choi�e, and
<br /> Trustar v►rill deli�er, or�ause ta be deii�ered, to Lender such in�trurnents as Lender may request fram time to time
<br /> ta permi�su�h participatian.
<br /> Complianc� 1Nith Laws. Trustor warrants that the Pr�per�y and Trustar's use af �he Property compli�s wit� all
<br /> existing appli�abie 1a►nrs,o�dinances, and regula�ians afi ga�ernmental autharities.
<br /> Survi�al of Prom�s�s. All prvmises, agreern�nts, and statements Trust�r has mad� in this Deed �f Trust shall
<br /> su��i�e the executian and delivery of�his D�ed of T�ust, shall be continuing in nature and shall remain in�ulf#orc�
<br /> and effe�t until such time as Borrower's Ind�btedness is paid in fiull.
<br /> EaCISTING INDEBTEDNESS. The following pravisions can�erning Existing Indebtedness are a part of this Deed of Trust:
<br /> Existing Lien. The lien �t �'hi5 ❑eed o� Trust seeu�ing �Che �ndebtedness may be see�ndary and in�erior t� an
<br /> ex�sting li�n. Trustor expressly cv�enants and agrees to pay, ar see t❑ the payment❑f, the Existin� lndebtedness
<br /> and to pre�en�any de�rault an such indebtedness, any default under the instruments e�idencing su�h indebtedness,
<br /> ar any default under any security documen#s for su�h indebtedn�ss.
<br /> No Nladi�icati�n. Trusta� shall n�t enter in�Ca any agresment v►ri�th the halder af any mortgage, deed af trust, vr
<br /> other se�urity agreem�nt wh�ch has priority o�er this Deed ❑f Trust by ►rvhich that agreement i� madifiied,
<br /> amended, �xtended, ar renewed withou�t the prior wri��ten consent of Lender. Trustor shall neither request nvr
<br /> accept any�uture ad�anees under any such security a�r�ement withaut the prior writ�en consen�of Lender.
<br /> �nNDEMNATl�N. The fo[lowing pr��isivns relating to condemnatian pro�eedings are a part of this Deed o#Trust:
<br /> Prnceedings. I� any proceeding in �andemnatian is fiiled, Trustor shall prornpt[y noti�y Lender in v►rriting, and
<br /> Trustar shall pr�mp�ly take such steps as may be necessary to d�f�nd t�e act�on �nd abtatn the award. Trus#or
<br /> may be the norninal party in su�h praceeding, hut L�nder shall he entitled�Co participate in the pr��eeding and�to be
<br /> represent�d in the pro�eeding by cvuns�I o� its own chaice, and Trust�r will deli�er or cause tv be deli�e�ed to
<br /> Lender such instruments and dacumentation as may be reques#ed by Lender fram time tv time to pe�'mit su�h
<br /> participation.
<br /> Application af Net Prviceeds. !f all or any part of the Property is condemned by eminent domain proceedings or by
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